Many people will not become rich even if they try for a lifetime, but the principle of building wealth for thousands of years is the same. Still, most people won't notice. The following seven are both wealthy and famous authors of economic books, and they all have the following insights on the accumulation of wealth:
1． Anyone can become very rich because wealth is a state of mind
Like many wealthy people, Robert. At one point, Robert Kiyosaki lost everything, and the Silver Pack Company he founded, the Surfers, brought him more than $1 million in debt. But he still claimed to be a rich man, "I am a rich man!" He announced to his wife with confidence.
Although he has a lot of "zeros" in his bank account, he has a stronger mentality toward wealth than ever. Since then, he has earned hundreds of millions of dollars through the "Rich Dad Poor Dad" education program.
Unless you firmly believe you can do this, you will not be able to build a lot of wealth. Building a lot of wealth starts with the mindset that you can succeed, and if you don't believe you can have that ability, it's almost impossible to build a huge amount of wealth.
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Anyone can become very rich. As long as you believe that you can have this ability, you can build great wealth.
Ideas determine who you end up being
Bruce Lee once said, "Your habitual thoughts largely determine who you end up being." People will never exceed what he thinks he can do."
"No one wants to be ready for something until he believes he can get it. Mindset must be a belief, not just a hope or wish." Napoleon. Hill pointed out.
Of course, this belief can be cultivated.
Rich and poor have different views on wealth
One of the main differences between the rich and the poor, or the middle class, is their perception of wealth. The rich believe that a great deal of wealth is inevitable, and in their minds, success is guaranteed.
Building a lot of wealth starts with your mindset. But most people don't believe they will create a lot of wealth, and the reason for the real failure is this attitude.
The rich man developed the secret skills of one person and one move
2． Don't listen to the majority
This is because most people are not wealthy. Most people are bankrupt, in debt, in poor financial shape, and they don't even invest to develop their financial wisdom.
So why would you follow their advice?
"One of the reasons millionaires succeed is that they think differently." Thomas. Stanley said.
Don't listen to the opinions of most people, one of the reasons millionaires succeed is that they think differently.
Think about the most common financial advice you've heard over the years, such as these:
Look for a job with a high income
Diversification
frugal
Don't take huge financial risks
Your home is your greatest asset
Pay off your credit card every month
But according to the world's most influential financial books, such advice is often fake.
Don't care what other people think
These traditional recommendations are actually what discourages people from gaining great wealth, as these ideas are often based on avoiding risk and fear, but they are out of date, and people who are truly wealthy won't fully adopt these advices.
Irving Kahn, a successful investor at 109, once quipped, "I would advise private investors to ignore what they hear on TV and the internet because they are not helpful."
Buffett agrees: "The temperament of a successful investor is the opposite of the market."
While everyone panicked at the fall in the market, wealthy businessmen were taking advantage of the opportunity. Ramit Sethi once said that fear can't be a reason not to make money, and when the masses panic, you find opportunities.
"I'll show you how to get rich: be afraid when others are greedy; be greedy when others are afraid." Buffett said.
3. Make your money work for you
Most people will only work for money and don't know how to make money work for them.
Every coin is like a worker, and that one worker has the ability to produce more workers, even hundreds of "workers", but only if you know how to make that one worker produce more for you.
And the same goes for putting money in the bank, which is actually a waste of money. Ramit Sey pointed out: "Due to inflation, the money in the bank is actually losing money every day.
Most people never know they can earn hundreds or thousands of dollars while asleep on their own. People who earn $2,000 a month from their investments are more enviable than those who earn $10,000 a month on their work income.
Because the person who invests has enough time to build more return income, but the latter has to spend most of his time working to earn more income, limited by energy and time itself.
Robert. "By constantly reinvesting asset profits into assets, the rich are making them richer," Kiyosaki said.
4． Accumulating wealth often seems simple and tedious
"A lot of people who live in expensive homes and drive luxury cars don't actually have much wealth," Stanley reveals, "and then we discover something even stranger: A lot of the rich don't even live in luxury neighborhoods."
Accumulating wealth often seems simple and tedious, and many people who live in expensive homes and drive luxury cars don't actually have much wealth.
Stanley spotted some trends:
A typical American millionaire would never spend more than $399 on clothes.
More than 95% of millionaires' income comes from stocks.
85% of millionaires don't work nine-to-five.
Building wealth often seems simple, even boring.
Stereotypes like jewelry, cars, and houses seem abnormal.
Dave. Dave Ramsey once said, "The typical millionaire lives in a middle-class home, drives a car of a certain age, and buys clothes online."
Because you don't live in a noble mansion community, it will be easier to accumulate wealth. When you don't have extra materialism and appearance to distract you, you actually have a greater ability to build great wealth
If you don't live in a noble mansion complex, it will be easier to accumulate wealth.
5． Building wealth takes time and patience
"This is the process of wealth accumulation, starting with a small amount and then gradually accumulating it."
Building wealth takes time, and the richest people tend to start first and then take a long time to build wealth.
Buffett is worth more than $77 billion, but hasn't he exceeded $3 billion until he was 59? At the age of 60, he earned a lot more in 12 months than he had in the past 59 years.
After a long wait, wealth will suddenly appear. So the key to getting rich is to start early and wait patiently for this long game.
"Wanting it now is a sign of humanity, but it's also a sign of immaturity, and a willingness to delay happiness for better outcomes is a sign of maturity." Dave. Ramsey said.
But what's even more ironic is that many people may suddenly inherit a huge fortune but don't know how to manage it. "The problem is managing money, not making money." Robert. Kiyosaki pointed out that so sudden wealth could destroy an incompetent person.
You need to learn how to responsibly own large amounts of wealth, which takes time and personal investment. Just as your money takes time to grow, you need time to grow and learn how to successfully own so much money without losing it.
"Wealth is often the result of hard work, perseverance, planning and, most importantly, a self-disciplined lifestyle." Thomas. Stanley said.
You need to learn how to responsibly own large amounts of wealth, which takes time and personal investment.
6. Great wealth means you don't need to work but you have it
"Ordinary people work hard for insignificant changes, looking forward to three weeks of vacation a year and a humble pension after 45 years of work." Robert. Kiyosaki said.
Let's imagine this kind of two people who both want to be life coaches and rich people.
The first man started the life coaching business from scratch, and although he had a decent profit, he was always busy. Because his income is directly proportional to his working hours, in order to earn more, he can only work more.
The second man also established a life coaching business, but he hired other coaches to get the job done. Soon after, all of her clients went to his life coach, and he was able to get a return from each employee.
He just needs to work when he wants to and then continue to make money while he sleeps.
If you limit your income based on working hours, you quickly reach the upper limit because you only have one person. However, if you own a business, you can remove all restrictions and make it easier to achieve great wealth.
Building wealth involves almost all sources of income, such as businesses, side businesses, investments, stocks, etc.
When you have wealth, you can spend very little time continuing to increase what you have. Tony. Robbins owns nearly 30 companies and hires other people to work for him, so he spends almost no time on the business, which is typical of the rich.
When you have wealth, you can spend very little time continuing to increase what you have, and many rich people hire other people to work for them.
Taxes are also one of the greatest assets. The fewer tax pages you have, the more money you can save.
In most places, the income tax is about 25-50%, and the tax rate on assets such as real estate and investments is usually much lower. Many investments charge less than 20% in taxes, while passive income may have no taxes at all.
Thomas. Stanley said that "to build wealth, minimize taxable income and maximize unrealized income (wealth/capital appreciation without cash flow)."
7． Improve your financial knowledge
Your financial intelligence (whether in words or numbers) can be the strongest stimulant for building wealth.
Robert. "If you want to build the Empire State Building, the first thing you do is dig a deep hole and lay a solid foundation," Kiyosaki said.
If you want to build a house in the suburbs, you want a six-inch slab. Most of the problems with getting rich quick is that they try to build the Empire State Building on six inches of concrete slabs."
In order to build wealth, you need a deep financial knowledge and cultural foundation. Universities, or libraries, have a large number of textbooks. Because the rich are always smarter than others in the financial world. If you don't know how money works, you can never build wealth.
Most poor and middle-class people will never learn the basics of these, will not read financial books, will not take online courses, or even understand how to build a financial budget.
Without knowledge, it is impossible to have wealth.
In order to build wealth, you need a deep financial knowledge and cultural foundation.